Global food prices continue to rise.

In September, the United Nations called a special meeting to address the global rise in food prices.  In July and August alone, worldwide food prices rose 5%. Droughts in Russia’s wheat growing region prompted a continuation of its ban on the export of wheat outside Russia.  Simultaneously, lower corn yields in the U.S. led to a record-high trading price for corn for the year.  Spikes in the prices of wheat, sugar, and oilseed have also been witnessed (Associated Press, September 3, 2010).  Producers are now starting to pass on more costs to consumers—costs they were previously absorbing.

Growing populations in India and China are also putting an additional strain on global food supplies, as these nations cannot support their own people (Empowerednews.net, November 4, 2010).  Recently, the UN noted that 1 billion people worldwide are currently undernourished.

God also prophesied that at the end of the age, famines, pestilence, drought, war, and other economic factors would lead to extremely expensive food prices, especially for grains and oil (Matthew 24:6-7; Revelation 6:5-6).  Rising food prices and the potential for shortages, although challenging to deal with, are most certainly a significant “sign of the times.”